Rupiah Relatively Stable

The central bank (Bank Indonesia/BI) reported on Thursday (July 20) that the rupiah remained relatively stable and tracked an appreciatory trend. The rupiah strengthened by a monthly average of 0.17% to a level of Rp13,298/USD in the reporting period. The appreciation was bolstered by the ongoing FX sales by corporations and a considerably large influx of foreign capital into the domestic market, and also in line with the appreciation in the regional currencies. Exchange rate volatility mas maintained at a low level, along with increased efficiency in the FX market. Yesterday, the rupiah however weakened to Rp13,320 against the US dollar.